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Segment Information (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Summary of Information about Company's Reportable Operating Segments

The tables below present information about the Company’s reportable operating segments (in thousands):

 

 

For the Year Ended December 31, 2017

 

 

Shopping

Centers

 

 

Loan

Investments

 

 

Other

 

 

Total

 

Total revenues

$

921,531

 

 

$

57

 

 

 

 

 

 

$

921,588

 

Rental operation expenses

 

(250,906

)

 

 

(11

)

 

 

 

 

 

 

(250,917

)

Net operating income

 

670,625

 

 

 

46

 

 

 

 

 

 

 

670,671

 

Impairment charges

 

(340,480

)

 

 

 

 

 

 

 

 

 

 

(340,480

)

Hurricane casualty and impairment loss

 

(5,930

)

 

 

 

 

 

 

 

 

 

 

(5,930

)

Depreciation and amortization

 

(346,204

)

 

 

 

 

 

 

 

 

 

 

(346,204

)

Interest income

 

 

 

 

 

28,364

 

 

 

 

 

 

 

28,364

 

Other income (expense), net

 

 

 

 

 

 

 

 

$

(68,003

)

 

 

(68,003

)

Unallocated expenses(A)

 

 

 

 

 

 

 

 

 

(290,919

)

 

 

(290,919

)

Equity in net income of joint ventures

 

8,837

 

 

 

 

 

 

 

 

 

 

 

8,837

 

Reserve of preferred equity interests

 

(61,000

)

 

 

 

 

 

 

 

 

 

 

(61,000

)

Gain on sale and change in control of interests, net

 

368

 

 

 

 

 

 

 

 

 

 

 

368

 

Loss from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

$

(404,296

)

As of December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total gross real estate assets

$

8,248,003

 

 

 

 

 

 

 

 

 

 

$

8,248,003

 

Notes receivable, net(B)

 

 

 

 

$

297,451

 

 

$

(277,776

)

 

$

19,675

 

 

 

For the Year Ended December 31, 2016

 

 

Shopping

Centers

 

 

Loan

Investments

 

 

Other

 

 

Total

 

Total revenues

$

1,005,761

 

 

$

44

 

 

 

 

 

 

$

1,005,805

 

Rental operation expenses

 

(276,866

)

 

 

(218

)

 

 

 

 

 

 

(277,084

)

Net operating income (loss)

 

728,895

 

 

 

(174

)

 

 

 

 

 

 

728,721

 

Impairment charges

 

(110,906

)

 

 

 

 

 

 

 

 

 

 

(110,906

)

Depreciation and amortization

 

(389,519

)

 

 

 

 

 

 

 

 

 

 

(389,519

)

Interest income

 

 

 

 

 

37,054

 

 

 

 

 

 

 

37,054

 

Other income (expense), net

 

 

 

 

 

 

 

 

$

3,322

 

 

 

3,322

 

Unallocated expenses(A)

 

 

 

 

 

 

 

 

 

(295,471

)

 

 

(295,471

)

Equity in net income of joint ventures

 

15,699

 

 

 

 

 

 

 

 

 

 

 

15,699

 

Loss on sale and change in control of interests, net

 

(1,087

)

 

 

 

 

 

 

 

 

 

 

(1,087

)

Loss from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

$

(12,187

)

As of December 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total gross real estate assets

$

9,244,058

 

 

 

 

 

 

 

 

 

 

$

9,244,058

 

Notes receivable, net(B)

 

 

 

 

$

442,826

 

 

$

(393,323

)

 

$

49,503

 

 

 

For the Year Ended December 31, 2015

 

 

Shopping

Centers

 

 

Loan

Investments

 

 

Other

 

 

Total

 

Total revenues

$

1,027,934

 

 

$

137

 

 

 

 

 

 

$

1,028,071

 

Rental operation expenses

 

(293,578

)

 

 

(115

)

 

 

 

 

 

 

(293,693

)

Net operating income

 

734,356

 

 

 

22

 

 

 

 

 

 

 

734,378

 

Impairment charges

 

(279,021

)

 

 

 

 

 

 

 

 

 

 

(279,021

)

Depreciation and amortization

 

(402,045

)

 

 

 

 

 

 

 

 

 

 

(402,045

)

Interest income

 

 

 

 

 

29,213

 

 

 

 

 

 

 

29,213

 

Other income (expense), net

 

 

 

 

 

 

 

 

$

(1,739

)

 

 

(1,739

)

Unallocated expenses(A)

 

 

 

 

 

 

 

 

 

(321,395

)

 

 

(321,395

)

Equity in net loss of joint ventures

 

(3,135

)

 

 

 

 

 

 

 

 

 

 

(3,135

)

Impairment of joint venture investments

 

(1,909

)

 

 

 

 

 

 

 

 

 

 

(1,909

)

Gain on sale and change in control of interests, net

 

7,772

 

 

 

 

 

 

 

 

 

 

 

7,772

 

Loss from continuing operations

 

 

 

 

 

 

 

 

 

 

 

 

$

(237,881

)

As of December 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total gross real estate assets

$

10,128,199

 

 

 

 

 

 

 

 

 

 

$

10,128,199

 

Notes receivable, net(B)

 

 

 

 

$

437,144

 

 

$

(394,610

)

 

$

42,534

 

(A)

Unallocated expenses consist of General and Administrative Expenses, Interest Expense and Tax Expense as listed in the Company’s consolidated statements of operations.  

(B)

Amount includes loans to affiliates classified in Investments in and Advances to Joint Ventures on the Company’s consolidated balance sheets.